§ 27-4.6-10. Foreign insurers.
(a)(1) Any foreign insurer shall, upon the written request of the commissioner, submit to
the commissioner an RBC report as of the end of the calendar year just ended the later
of:
(i) The date an RBC report would be required to be filed by a domestic insurer under this
chapter; or
(ii) Fifteen (15) days after the request is received by the foreign insurer.
(2) Any foreign insurer shall, at the written request of the commissioner, promptly submit
to the commissioner a copy of any RBC plan th
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§ 27-4.6-10. Foreign insurers.
(a)(1) Any foreign insurer shall, upon the written request of the commissioner, submit to
the commissioner an RBC report as of the end of the calendar year just ended the later
of:
(i) The date an RBC report would be required to be filed by a domestic insurer under this
chapter; or
(ii) Fifteen (15) days after the request is received by the foreign insurer.
(2) Any foreign insurer shall, at the written request of the commissioner, promptly submit
to the commissioner a copy of any RBC plan that is filed with the insurance commissioner
of any other state.
(b) In the event of a company action level event, regulatory action level event, or authorized
control level event with respect to any foreign insurer as determined under the RBC
statute applicable in the state of domicile of the insurer (or, if no RBC statute
is in force in that state, under the provisions of this chapter), if the insurance
commissioner of the state of domicile of the foreign insurer fails to require the
foreign insurer to file an RBC plan in the manner specified under that state's RBC
statute (or, if no RBC statute is in force in that state, under §â€‚27-4.6-3), the commissioner may require the foreign insurer to file an RBC plan with the commissioner.
In that event, the failure of the foreign insurer to file an RBC plan with the commissioner
shall be grounds to order the insurer to cease and desist from writing new insurance
business in this state.
(c) In the event of a mandatory control level event with respect to any foreign insurer,
if no domiciliary receiver has been appointed with respect to the foreign insurer
under the rehabilitation and liquidation statute applicable in the state of domicile
of the foreign insurer, the commissioner may make application to the Superior Court
for Providence County permitted under chapter 14.3 of this title with respect to the
liquidation of property of foreign insurers found in this state, and the occurrence
of the mandatory control level event shall be considered adequate grounds for the
application.